As reported by Politico, the European Union has devised a way to bypass Hungary's position and reduce the risk of a veto on extending sanctions against Russia. It is proposed to change the rules for extending sanctions from unanimous to qualified majority to reduce the risk of Hungary blocking the process and returning Russia's assets.
The publication also notes that the European Commission proposed using frozen Russian funds to finance a new loan for Ukraine amounting to 140 billion euros. Meanwhile, the EU will enter into an agreement with the financial company Euroclear, where the Russian funds are held, on a zero-interest debt agreement so that the clearinghouse can fulfill possible future obligations to Russia.
As noted by Bloomberg, Ukraine will be obliged to repay the EU funds only if Moscow agrees to finance the country's reconstruction and pay reparations or if sanctions against Russia are lifted.
The idea was communicated to the capitals of member states ahead of today's meeting of EU ambassadors and next week's meeting of European leaders in Copenhagen.